Kroll Bond Rating Agency (KBRA) releases its Marketplace Consumer Loan Indices for April.
Marketplace consumer loan performance showed mixed results in April, despite many borrowers receiving a tax refund, providing an additional source of cash to catch-up on late payments. Annualized net losses in KBRAs Tier 1 and Tier 2 indices rose 43bp and 63bp to 5.96% and 11.71%, respectively. Meanwhile, KBRA Tier 3 index outperformed, with annualized net losses falling 809bp to 15.73% in April.
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About KBRA and KBRA Europe
KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and is a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.
Brian Ford, CFA, Structured Finance Research